LAGOS JANUARY 29TH (NEWSRANGERS)-The arrival of Nigeria’s largest ethical bank, The Alternative Bank, has been endorsed by the Emir of Kano, Alhaji Aminu Ado Bayero, as the bank opens its first stand-alone branch in the ancient city. The Emir made the remarks during the launch of the bank, describing it as a transformative force that…
LAGOS JANUARY 26TH (NEWSRANGERS)-The Nigerian Ports Authority (NPA) and the Nigeria Customs Service (NCS) have pledge to work together to deepen trade facilitation and drive exports as part of measures to support the federal governments economic diversification effort. They made the pledge yesterday when the Comptroller General of the NCS, Bashir Adewale Adeniyi led members…
By Ndubuisi Ekwekwe LAGOS JANUARY 25TH (NEWSRANGERS)-One of the worst economic policies in Nigeria since 1999 is the current floating of the Naira. That decision has a score of “F” from me, because despite what any person could tell you, from the IMF to the Central Bank of Nigeria, economics is “science” played by the…
LAGOS JANUARY 25TH (NEWSRANGERS)-Nigeria is bringing foreign-exchange trading back into public view, the latest step in its bid to narrow the gap between the official and unofficial rate of its naira currency. The country’s financial crimes watchdog has given the Association of Bureaux de Change Operators of Nigeria the go-ahead to publicly post the buying…
LAGOS JANUARY 21ST (NEWSRANGERS)-Record inflation, a sliding naira currency and weak financial structure are keeping investors wary of Nigeria, Africa’s largest economy, with some companies even stepping away despite economic reforms under recently-elected President Bola Ahmed Tinubu. Tinubu, who took office last May, has repeatedly called for patience to allow his reforms to take effect…
LAGOS JANUARY 17TH (NEWSRANGERS)-Customs Area Controller (CAC) Tin Can Island Port, Comptroller Dera Nnadi has promised to generate a whooping One Trillion, One Hundred and Thirty billion, seven hundred and sixty eight million, fifty one thousand, eight hundred and eighty one naira (N1,130, 768,051,881.29) allocated to the Command in the year 2024. Nnadi stated that…
LAGOS JANUARY 17TH (NEWSRANGERS)-The International Monetary Fund (IMF) identifies 10 African countries with manageable debt, shedding light on their economic stability. Nigeria stands out despite domestic concerns. Tanzania (41.8% Debt-to-GDP Ratio) Tanzania takes the lead among Africa’s least indebted nations with a debt-to-GDP ratio of 41.8%. The East African nation’s relatively low ratio indicates a…
LAGOS JANUARY 17TH (NEWSRANGERS)-Shell is set to conclude nearly a century of operations in Nigerian onshore oil and gas after agreeing to sell its subsidiary there to a consortium of five mostly local companies for up to $2.4 billion. The British energy giant pioneered Nigeria’s oil and gas business beginning in the 1930s. It has…